RE: ~~ Fraser ~~18 Aug 2019 13:15
"Sure the dilution was disappointing, but given what forces are acting against this project they are doing a stifling job..."
There's the Kool aid right there. I'm as willing to take a bite of the proverbial dirt pie as the next LTH on a -50% capital growth rate since 2016, but I don't fail to see an understandable but small cognitive bias in some people's belief in this project and the willingness to bend over the barrell with a smile on their face.
Let's be honest, nobody senior in or around the financing of SXX is naive to the future value of the business or the approximate share price when that comes to fruition. What I don't accept is that - rightly or wrongly - PIs have not been entirely disregarded throughout, and IMO to a level inconsistent with the far higher regard that has been shown large/IIs.
Yes, the project couldn't have happened without IIs; but it couldn't have happened without PIs either.
Again, firstly, on balance, I accept the BoD behaviour has been reasonable throughout the complexity of the operation, stakeholders, etc, and that's life as a PI - you're not a single, powerful entity, you're divided and weak. Secondly, I still have unfailing belief in the legitimacy of the project and strategy making it valuable (global population growth, restriction of arable land globally, yield increase with the product, huge potential supply, etc, etc).
Moan, but then get it out of your system and belt up or sell up.